NEW YORK (CNN/Money) - U.S. stocks were little changed early Monday after signs of continued strength in the consumer spending component of the economy failed to inspire investors still reeling from last week's sharp selloff.

At 9:37 a.m. ET, the Nasdaq composite added 5.75 to 1,669.64. The Dow Jones industrial average rose 9.69 to 9,920.41. The Standard & Poor's 500 index lost 0.15 to 1,076.17.

A week heavy on economic reports started off with positive news, although it was largely shrugged off by investors. Consumer spending and personal income both rose slightly last month, showing consumer buying continues to be a point of strength for the recovering economy. Personal income and personal spending both rose 0.4 percent in March, after rising 0.6 percent the previous month, the government said.

In corporate news, Merrill Lynch upped its rating on Boeing (BA: up $1.85 to $43.36, Research, Estimates) to "strong buy" from "buy" following a Barron's article saying the aircraft manufacturer was undervalued.

Telecom weakness pushed European bourses lower at midday, while blue-chip losses, particularly in South Korea, dragged Asian markets lower by the close. The dollar was weaker versus the yen and the euro.

Gold was at a two-year high of $311 an ounce in London trading, while Brent crude oil futures fell 10 cents to $26.09.

Treasurys were lower, pushing the 10-year note yield up to 5.07 percent.